Chronicle is to be “absorbed”

Alphabet’s one year old cybersecurity company, Chronicle, is to be “absorbed” by its Google Cloud division because “customers have been seeking an integrated offering.” Chronicle’s malware analysis and security threat investigation tools are now seen as complementary to the security tools offered by Google’s cloud computing business.

Security, Information Technology

Concern over fewer defense contractors

The lessening number of major US defense contractors has become a national security concern. Will Roper, assistant secretary of the US Air Force for acquisition, technology and logistics, has publicly stated when his service was formed in 1947, over a dozen companies could make airplanes. Mr Roper, who oversees an annual budget of more than $40 billion, told a defense technology conference: “Right now we are down to just a couple of companies who can build tactical airplanes for us. We need to do everything in our power to start opening up that envelope again,”

Defense, Aerospace, Manufacturing

FDA approval for Avastin competitor

The US Food and Drug Administration (FDA) has approved Pfizer’s biosimilar to Roche’s cancer treatment Avastin. Pfizer’s Zirabev received approval for the treatment of five types of cancer, including colorectal and lung cancers. In 2017, Amgen’s Mvasi was approved by the FDA as the first biosimilar to Roche’s Avastin, which brought in revenue of $6.85 billion in 2018.

Healthcare, Manufacturing

$63 billion for Botox

AbbVie, the drug manufacturer, says it will buy Allergan, maker of Botox, for about $63 billion. The purchase is intended to reduce AbbVie’s reliance on the arthritis treatment Humira, the world’s best-selling drug. Humira had revenue of about $20 billion in 2018. The deal comes only months after Bristol-Myers Squibb agreed to buy Celgene in a $74 billion transaction.

Healthcare, Acquisitions, Manufacturing